Asean government officials and traders have called for China to eliminate non-tariff barriers and lower high value-added taxes (VAT) to promote trade and economic growth under the China-Asean Free Trade Agreement.
During the eighth China-Asean Expo and the opening of the China-Asean Business and Investment Summit last week in Nanning, capital of southern China's Guanxi region, Malaysian Prime Minister Najib Razak said in a speech that China needed to relax some regulations and technical barriers to facilitate trade growth. "If technical barriers such as high tariffs in each province and stringent non-tariff barriers were eliminated, trade and investment between both sides should surge amid the slowing down of economic growth in Western countries," he said.China is the biggest trade partner for Asean, while Asean is third for China. From January to August, two-way trade between China and Asean rose 26.6 per cent year on year to US$234.61 billion (Bt7.192 trillion). China's exports to Asean grew by 24.3 per cent to $109.46 billion, while its imports from Asean increased by 28.6 per cent to $125.14 billion.
More than 90 per cent of the goods traded between China and Asean were subject to zero duties. However, China still maintains its VAT at a high 13-17 per cent, while each local government has its own barriers and standards for inspecting imported goods. These complicated and duplicated regulations have hindered trade from Asean.
Phaichit Viboontanasarn, the Thai commercial ambassador to Beijing, said the Kingdom's exports to China would continue to grow on closer cooperation. However, Thai traders have raised many issues, mainly high duties and various import standards. Other issues are the lack of letters of credit for Chinese importers, fake yuan banknotes and strict security for Thai traders wishing to attend the trade fair.
Thai exports to China were forecast to grow by 25 per cent next year, but because of the serious flooding in Thailand, growth might be only 20 per cent.
Tanapong Lertpakakul, managing director of Lalana Premier Co, the Thai producer of Bear balm, who attended the expo, said China had set up stiff barriers to prevent access of imports to its market, despite zero duties under the free-trade pact. He called on the Thai government to talk to the central Chinese government about employing the same regulations for imports and giving the green light to goods purchased from Asean nations.Anchalee Promnart, deputy director-general of the Department of Export Promotion, said Thailand was targeted to achieve at least Bt120 billion in immediate sales during the five days of the expo.
Altogether 122 Thai companies have joined the Pavilion of Commodity Trade Exhibition and Pavilion of Cities of Charm. Those exporters are from five industries - machinery and equipment, electronics and electric appliances, construction materials and kitchenware, agricultural products and foods, and consumer goods and decorative items.
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